Leaked plan for bayfront puts developers in hot seat

Published: Tuesday, July 15, 2014 at 10:30 p.m.

Last Modified: Tuesday, July 15, 2014 at 10:30 p.m.

SARASOTA - Weeks after their plans were leaked to the public, a group of developers will try on Friday to tamp down widespread speculation about their proposal to remake Sarasota's bayfront.

Talk of the group's intention to build a new, $100 million Mote aquarium, a hotel and a conference center has upset the group's schedule, resulting in a hastily arranged public meeting at a downtown restaurant.

The developers, led by capital investment firm Seven Holdings, have been working for months on the $200 million project in concert with major builders and architects. But the anonymous delivery of their plans to City Hall last month threw the group unexpectedly into the spotlight, and into open competition with other bayfront development proponents.

Friday's meeting was initially announced through email invitations. But Chris Cogan, a co-managing partner of Seven Holdings, said on Tuesday that it would be open to the public, though seating at the restaurant may be limited. Cogan said the plans that have been in circulation are incomplete, and he promised more information on Friday.

“Obviously, we've been circumvented in our plans,” Cogan said. “We've been dealing with lot of political turmoil, but we're not going to let it deter us.”

Sarasota city officials and representatives of Mote Marine Laboratory immediately distanced themselves from the proposal, which calls for both to be heavily involved.

Cogan said his group was working confidentially with its partners but was not trying to deceive anyone, and is eager to dispel what he calls “misconceptions” surrounding the Seven Holdings plan.

Even so, city commissioners were skeptical. The new proposal emerged just as city officials were beginning to warm up to the efforts of a group of bayfront development boosters from Visit Sarasota County.

Operating under the banner of “Bayfront 20:20,” the group has emphasized wide-open discussion about the future of the downtown waterfront.

These efforts come years after the city's ambitious 2007 Cultural Park Concept Plan was sunk by the Great Recession, and it was only last month that Bayfront 20:20 received a tentative show of support from the City Commission. The appearance of a competing, privately backed development proposal irked some commissioners, who immediately sought to throw cold water on any notion of public financing.

Vice Mayor Susan Chapman said she planned to attend Friday's meeting to learn more about what the developers have in mind.

“I support a more public process than this group has used,” Chapman said. “This bayfront is public property. The city spent over $400,000 on the cultural district master plan with public charrettes.”

Chapman said she preferred the approach of the Visit Sarasota County group. “This Seven project seems to be working at cross-purposes with that plan,” she said.

It was Chapman who first received a copy of the Seven Holdings plan, which was left anonymously at her office, she said.

Cogan said the document that reached City Hall last month was not meant to be released yet and was incomplete.

In particular, he stressed that no city cash or credit would be used in the project, which would be financed by a nonprofit corporation through the municipal bond market. The project would involve the city lending some of the bayfront property to the development, a prospect that city staff have said they never heard of.

But Cogan said the plans that have been released thus far do provide a general picture of the development's goals.

The project would put a new aquarium for Mote on the northern half of what is now the Van Wezel Performing Arts Hall's parking lot. A 300-room hotel would go up at 10th Street and U.S. 41, along with a 1,600-space parking garage.

The Sarasota Lawn Bowling Club could be squeezed out by a 60,000 square-foot conference center and related developments, but Cogan said the developers would work with the club to relocate.

Apart from Seven Holdings, the development proposal involves an Arizona-based development group called Governmental Facilities Development Services, and firms such as Winegardner and Hammons, Inc. Hotels and Resorts, Core Construction and Hoyt Architects.

Friday's presentation, from 4 to 6 p.m., will be held at The Francis at Louis Modern, 1289 Palm Ave.

Cogan said the developers are planning more public meetings at larger venues.

<p><em>SARASOTA</em> - Weeks after their plans were leaked to the public, a group of developers will try on Friday to tamp down widespread speculation about their proposal to remake Sarasota's bayfront. </p><p>Talk of the group's intention to build a new, $100 million Mote aquarium, a hotel and a conference center has upset the group's schedule, resulting in a hastily arranged public meeting at a downtown restaurant. </p><p>The developers, led by capital investment firm Seven Holdings, have been working for months on the $200 million project in concert with major builders and architects. But the anonymous delivery of their plans to City Hall last month threw the group unexpectedly into the spotlight, and into open competition with other bayfront development proponents.</p><p>Friday's meeting was initially announced through email invitations. But Chris Cogan, a co-managing partner of Seven Holdings, said on Tuesday that it would be open to the public, though seating at the restaurant may be limited. Cogan said the plans that have been in circulation are incomplete, and he promised more information on Friday.</p><p>“Obviously, we've been circumvented in our plans,” Cogan said. “We've been dealing with lot of political turmoil, but we're not going to let it deter us.”</p><p>Sarasota city officials and representatives of Mote Marine Laboratory immediately distanced themselves from the proposal, which calls for both to be heavily involved. </p><p>Cogan said his group was working confidentially with its partners but was not trying to deceive anyone, and is eager to dispel what he calls “misconceptions” surrounding the Seven Holdings plan. </p><p>Even so, city commissioners were skeptical. The new proposal emerged just as city officials were beginning to warm up to the efforts of a group of bayfront development boosters from Visit Sarasota County.</p><p>Operating under the banner of “Bayfront 20:20,” the group has emphasized wide-open discussion about the future of the downtown waterfront.</p><p>These efforts come years after the city's ambitious 2007 Cultural Park Concept Plan was sunk by the Great Recession, and it was only last month that Bayfront 20:20 received a tentative show of support from the City Commission. The appearance of a competing, privately backed development proposal irked some commissioners, who immediately sought to throw cold water on any notion of public financing. </p><p>Vice Mayor Susan Chapman said she planned to attend Friday's meeting to learn more about what the developers have in mind. </p><p>“I support a more public process than this group has used,” Chapman said. “This bayfront is public property. The city spent over $400,000 on the cultural district master plan with public charrettes.”</p><p>Chapman said she preferred the approach of the Visit Sarasota County group. “This Seven project seems to be working at cross-purposes with that plan,” she said. </p><p>It was Chapman who first received a copy of the Seven Holdings plan, which was left anonymously at her office, she said. </p><p>Cogan said the document that reached City Hall last month was not meant to be released yet and was incomplete.</p><p>In particular, he stressed that no city cash or credit would be used in the project, which would be financed by a nonprofit corporation through the municipal bond market. The project would involve the city lending some of the bayfront property to the development, a prospect that city staff have said they never heard of. </p><p>But Cogan said the plans that have been released thus far do provide a general picture of the development's goals.</p><p>The project would put a new aquarium for Mote on the northern half of what is now the Van Wezel Performing Arts Hall's parking lot. A 300-room hotel would go up at 10th Street and U.S. 41, along with a 1,600-space parking garage.</p><p>The Sarasota Lawn Bowling Club could be squeezed out by a 60,000 square-foot conference center and related developments, but Cogan said the developers would work with the club to relocate. </p><p>Apart from Seven Holdings, the development proposal involves an Arizona-based development group called Governmental Facilities Development Services, and firms such as Winegardner and Hammons, Inc. Hotels and Resorts, Core Construction and Hoyt Architects. </p><p>Friday's presentation, from 4 to 6 p.m., will be held at The Francis at Louis Modern, 1289 Palm Ave. </p><p>Cogan said the developers are planning more public meetings at larger venues.</p>